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ARLINGTON, Va. – Today, the Senate approved Federal Aviation Authority (FAA) reauthorization legislation that includes twice the amount of funding for an unrelated corporate welfare agency that takes American tax dollars and uses them to subsidize development projects in other countries. The foreign infrastructure spending measure woven in today’s must-pass legislation funds an agency known as the Overseas Private Investment Corporation (OPIC), and folds OPIC into a new agency, the U.S. International Development Finance Corporation (DFC).
This comes as the Treasury Department reports that out-of-control federal spending added $1.2 trillion to the national debt in fiscal year 2018, just days after Congress passed—and the President signed—another reckless spending bill that puts Congress on pace to increase discretionary spending another 3% and counting.
AFP Chief Government Affairs Officer Brent Gardner issued the following statement:
“In typical Washington fashion, Congress will hide behind must-pass legislation to approve sending billions of taxpayer dollars overseas. Just like the Export-Import Bank, the DFC epitomizes corporate welfare with all the wrong strings attached, like automatic funding increases and a structure that undermines Congressional oversight. This agency shouldn’t even exist, let alone have its funding doubled. Is there any wonder why we’re trillions of dollars in debt?”
For further information or to set up an interview, please send an email to GBraud@afphq.org.
Americans for Prosperity (AFP) exists to recruit, educate, and mobilize citizens in support of the policies and goals of a free society at the local, state, and federal level, helping every American live their dream – especially the least fortunate. AFP has more than 3.2 million activists across the nation, a local infrastructure that includes 36 state chapters, and has received financial support from more than 100,000 Americans in all 50 states. For more information, visit www.AmericansForProsperity.org